New World Development (OTCMKTS:NDVLY) Shares Gap Up - Still a Buy?

Key Points

• New World Development's share price gapped up from $0.44 to $0.50 before trading at $0.48 with a volume of 165,170 shares.
• Goldman Sachs upgraded New World Development's rating from "strong sell" to "hold," aligning with a consensus rating of "Hold" from analysts.
• The company operates in property development and investment in Hong Kong and Mainland China, covering various property types and additional services like commercial aircraft leasing.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.44, but opened at $0.50. New World Development shares last traded at $0.48, with a volume of 165,170 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded New World Development from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, New World Development has a consensus rating of "Hold".

New World Development Price Performance

The company has a 50-day moving average price of $0.43 and a 200-day moving average price of $0.36.

About New World Development

New World Development Company Limited, an investment holding company, operates in the property development and investment business in Hong Kong and Mainland China. Its property portfolio includes residential, retail, office, and industrial properties. The company also provides commercial aircraft leasing services; operates expressways; and constructs residential and commercial projects, as well as whole life, term, dread disease, medical, disability, and accident insurance products.

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